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Although there are many studies investigating attributes affecting productivity, the research into measurement of those attributes has been incomplete. In an attempt to bridge this gap, the authors reviewed the productivity literature, identified and integrated previously described attributes, and developed a measure to estimate those attributes. The developed questionnaire – questionnaire on productivity attributes (QPA) – is based on a five-dimensional conceptual framework, which consisted of human resource management, management strategy, organizational culture, production methodology, and performance. A model that measures a way to construct a linear scale from ordinal data has also been introduced. The paper aims to discuss these issues.

Initially, a pilot survey among Indian academic and industrial experts as well as employees working in manufacturing industries was conducted to optimize clarity, readability, and construction of the QPA. After pilot-testing, the 45 QPA items were further field surveyed amongst a representative sample of 311 Indian engineers, managers, and workers from manufacturing industries. One-way analysis of variance is performed to examine whether there are differences among engineers, managers, and workers in the understandability or applicability of QPA. Exploratory factor analysis is used to confirm the five-dimensional conceptual framework. Also, infit and outfit measures have been used to check the QPA model fit. To increase confidence, all retained items are tested for goodness-of-fit test. Finally, the functioning of optimal response categorization of the QPA is demonstrated in terms of frequencies, average measures, and standard error.

A five-dimensional conceptual framework is identified. A generic short scale was constructed. Finally, the developed questionnaire provides new insights into how to avoid the trade-offs commonly observed in productivity research.

The newly designed QPA appears as a general measure for productivity attributes which can be used by scholars and practitioners to conduct basic research on productivity improvement in various industries.

The paper aims to study market dynamics in the backdrop of information symmetry and quality perception. The position of high quality products (HQPs) in the market is a focus of this analysis. Also, an attempt is made to unfold the prevailing parametric relationships in the market of developed and developing nations.

Related literature is reviewed and investigation is attempted into market dynamics. System dynamics is used for preliminary modelling and analysis. Simulation runs are carried out to assess the impact of company reputation and advertising on market parameters.

Behaviours of market parameters are unraveled. From using correlation analysis and analytic hierarchy approach, the policy measures to improve the HQP position in the market are revealed.

The study of some aspects of market dynamics is attempted. Further, study and modelling are required to completely understand the market behaviour.

The model has a practical relevance to implement quality perception enhancement by deciding on the policy mix.

This is a start for systems analysis of the market, which may offer a long‐term foundation to market dynamics.

Total quality management (TQM) at the industry end along with quality function deployment (QFD) molds product quality. It flows to the customer at the market end with a value called quality perception, embedding the concept of probability of acceptance and quality uncertainty. The purpose of this paper is to analyze and validate the existence of upcoming term “quality uncertainty” in the backdrop of information asymmetry.

Theories of probability and reliability engineering are used for mathematical modeling and analysis. Fault tree and success tree method is specifically applied to analyze quality uncertainty and quality perception at the market end.

Quality perception is an outcome of combined probability of information symmetry and TQM or product quality, whereas its inverse is quality uncertainty. Determining quality perception or uncertainty of any product type is possible in a market scenario, and its impact on product life cycle and company revenue can be accessed accordingly.

The model proposed here helps compute information symmetry and quality perception at the market end. More data exploration methods can be investigated to apply this model precisely in real life setting.

It is of equal importance to measure quality uncertainty due to information asymmetry and commensurate revenue loss to the company. Based on this, a policy mix of maneuvering for quality perception enhancement can be developed at both ends of supply chain processes.

With quality perception defined and modeled, the paper attempts market orientation to quality paradigm. It adds a new dimension to quality management.

Prevailing information asymmetry in business processes alters the market dynamics. Quality uncertainty ensues from this phenomenon. Philosophy of information economics is implemented to correlate total quality management (TQM) practices in industry with quality perceived by customers. Quality perception, a newly coined term, is discussed at length, along with causal factors. This paper aims to provide a system dynamics framework for quality perception and to investigate the role of the changing level of market‐side enablers on quality perception.

System dynamics is used for modeling and analysis. To realize the impact of information asymmetry on quality perception, simulation runs are carried out for an Indian case.

Enablers, such as advertising, word‐of‐mouth, rebate, warranty and guarantee, mitigate the effect of information asymmetry on quality perception, and commensurately translate TQM to market value.

The study of some aspects of information asymmetry and quality perception is attempted. Further study is required to understand repercussions of information asymmetry on the complete supply chain processes.

The model has a practical relevance to implement quality perception enhancement by deciding upon the policy mix.

With quality perception defined and modeled, the paper attempts market orientation to quality paradigm.

Recently, Nobel Prize‐winning research in information economics has revealed that information asymmetry is instrumental for quality uncertainty, which is more crucial in developing nations. In this backdrop, aims to explain market mechanisms for various informational ambiences. Also, the paper aims to deal with quality management progress in developing countries. Factors responsible for quality success are identified and correlated.

System thinking is attempted in order to study information asymmetry repercussions on quality paradigm.

Quality success, particularly in developing nations, depends on many factors and there is a need to assimilate these related strands.

Implications for holistic quality success are offered.